When was 1INCH coin issued? Learn about the origin of 1INCH coin in one article

The Genesis of 1INCH: A Comprehensive Guide to Its History and Origins

1. Inception:
   • The 1INCH Network, a decentralized exchange aggregator, was conceived in 2017 by Sergej Kunz and Anton Bukov.
   • The project's initial goal was to enhance the efficiency of decentralized finance (DeFi) trading by aggregating liquidity from multiple decentralized exchanges (DEXs).
2. Development and Launch:
   • The 1INCH protocol was formally launched in May 2020.
   • It initially supported Ethereum-based assets and quickly gained traction due to its user-friendly interface and low slippage.
3. Token Creation and Distribution:
   • The 1INCH token (1INCH) was created as a utility token within the 1INCH Network in November 2020.
   • The token serves multiple purposes, including governance, staking rewards, and incentivizing liquidity providers.
   • 1INCH tokens were initially distributed through a fair launch and liquidity mining program.
4. Growth and Expansion:
   • 1INCH experienced significant growth in 2021 due to the surge in DeFi adoption.
   • It expanded its support to other blockchain networks, including Polygon and Optimism, and integrated with major DEXs such as Uniswap and Curve.
5. Recent Developments:
   • In 2022, 1INCH launched several new products and features, including a limit order protocol, a decentralized stablecoin swap, and a multi-chain bridge.
   • The project also introduced the 1INCH Foundation to govern the ecosystem's development and community engagement.

Conclusion:

The origin of the 1INCH coin lies in the desire to improve DeFi trading efficiency. Launched in 2020, 1INCH has evolved into a leading DEX aggregator with a comprehensive ecosystem and a dedicated community. As DeFi continues to grow, 1INCH is well-positioned to play a vital role in shaping the future of decentralized finance.